MGIC Investment Corp (NYSE:MTG) traded with a subtraction of -$0.12 to close at $16.82on Friday, a downside of -0.74 percent. An average of 1,105,213 shares of common stock have been traded in the last five days. There was a fall of -$0.08 in the past week, and it reached a new high 34 times over the past 12 months. The last 20 days have seen an average of 1,620,853 shares traded, while the 50-day average volume stands at 1,733,717.
MTG stock has decreased by -3.91% in the last month. The company shares reached their 1-month lowest point of $16.63 on 09/27/23. With the stock rallying to its 52-week high on 08/10/23, shares of the company touched a low of $12.13 and a high of $18.25 in 52 weeks. It has reached a new high 35 times so far this year and achieved 29.35% or $3.83 in price. In spite of this, the price is down -7.86% from the 52-week high.
Insider Transactions
MTG stock investors should be aware that MGIC Investment Corp (MTG) stock had its last reported insider trading activity 214 days ago on Feb 27.
Valuation Metrics
MGIC Investment Corp (MTG) has a trailing price-to-earnings (P/E) ratio of 6.37, which compares with the N/A for the broader industry. The stock’s beta is 1.29. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.09, the price-to-book (PB) ratio at 0.98, and the price-to-cash flow ratio at 7.38.
The company has a payout ratio of 12.90%. The company’s most recent quarterly dividend payment was $0.1150 a share, representing a up of 15.0% from $0.10 last year. Its latest increase dividend $0.0150 reported on Thursday July 27 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.14 and a total debt to equity ratio of 0.14 for the quarter ending June 29.
Earnings Surprise
For the three-month period that ended June 29, MGIC Investment Corp had $642.46 million in total debt. The company posted a net income of $191.05 million in the quarter, while revenues of $154.55 million were shrunk -30.47%. The analyst consensus anticipated MGIC Investment Corp’s latest quarter earnings to come in at $0.53 per share, but it turned out to be $0.68, a 28.30% surprise. At the end of the quarter ending June 29, MGIC Investment Corp’s stock balance sheet showed total debt was $663.55 million. Shareholders own equity worth $282.32 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at MGIC Investment Corp (MTG) price momentum. RSI 9-day as of the close on 28 September was 39.75%, suggesting the stock is Neutral, with historical volatility in this time frame at 11.80%.
As of today, MTG’s price is $16.85 -0.44% or -$0.08 from its 5-day moving average. MTG is currently trading -4.24% lower than its 20-day SMA and +14.06% higher than its 100-day SMA. However, the stock’s current price level is +1.48% above the SMA50 and +27.34% above the SMA200.
The stochastic %K and %D were 22.22% and 16.65%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 22.22% and the average true range at 0.28, the RSI (14) stands at 42.64%. The stock has reached -0.12 on the 9-day MACD Oscillator while the 14-day reading was at -0.25.
Analyst Ratings
RBC Capital Mkts downgraded MGIC Investment Corp (NYSE: MTG) to a a Sector perform rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for MGIC Investment Corp (MTG) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MTG, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 5 others rate it as a “buy”.
What is MTG’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $21.00, with a median target of $19.50. Taking a look at these predictions, the average price target given by analysts for MGIC Investment Corp (MTG) stock is $19.33.
